Indian equity indices reversed all their intraday gains after index heavy-weight ITC fell over 2 per cent. The Sensex fell as much as 150 points to 29,265.32 and the Nifty50 index broke below the crucial level of 9,100.

FMCG and pharma shares witnessed maximum selloff with their respective sub-indices on NSE falling 0.92 and 0.83 per cent respectively.

Among Nifty stocks, Sun Pharma was the top loser, down 2.33 per cent followed by Bank of Baroda and ITC, which fell over 2 per cent each.

Meanwhile, Reliance Industries continued to be the top gainer in the Nifty, up 2.42 per cent, erasing some of its intraday gains. Reliance Industries was up over 3.5 per cent at its day's high. Bharti Infratel, Tech Mahindra, NTPC and Indiabulls Housing Finance were the other major losers in the index.

As of 1.40 pm, Sensex was down 74 points at 29,348 and the Nifty traded 23 points lower at 9,113.